Image placeholder

Declaration of self-reliant India's relief package, Finance Minister gave Diwali gift to farmers and employees

To improve the economy, boost employment and farmers  Central Government has announced a relief package of 2.65 lakh crore rupees on Thursday. This relief package will benefit farmers, employees, home buyers and other traders. Under this relief package, many simplified facilities have been given.

Finance Minister Nirmala Sitharaman said that there are signs of improvement in the economy. Corona's active cases have also declined, the effect of which will be seen even further. 

Announcing the third phase of self-reliant India package before Diwali, the Finance Minister gave information about the new employment generation scheme. She also said that establishments making new recruits under this scheme will be subsidized in Employees Provident Fund. However, till now employees and company have to pay 12-12 percent of the basic salary in EPF. 

The Finance Minister said that the employees getting less than 15 thousand monthly salary will get the benefit. These workers will include employees who lost their jobs during the Corona pandemic and those who have joined the job from October 1. She has also announced a grant of Rs 900 crore for the Covid security mission. Along with this, the government has made a decision to provide fertilizer subsidy of 65 thousand crores for the farmers.

Three Major Steps by Government 

1-Additional provision of Rs 18000 crore for Sehri Awas Yojana. This will build millions of unfinished houses and provide employment to thousands. In addition, an additional provision of 10 thousand crore rupees for the Pradhan Mantri Gareeb Kalyan Rozgar Yojana and the rural economy will get momentum.

2-Income tax rules will be exempted for the first time selling residential units of up to 2 crores below the Circle rate. Difference between Circle Rate and Sale Agreement Price increased from 10% to 20%. 

3-The benefit of the 3 lakh crore Emergency Credit loan guarantee scheme (ECLGS)  has now been extended to 31 March 2021. Small Businesses Can Get Loans Without Mortgaging Anything.

Published: November 13th, 2020

Leave a comment